What are some common mistakes in grant expense reporting?

What are some common mistakes in grant expense reporting?

Common mistakes include misclassifying expenses, failing to keep receipts, and not adhering to budget limits.

How can I avoid misclassifying expenses?

To avoid misclassification, familiarize yourself with the grant guidelines and categorize expenses accurately from the start.

What should I do if I lost a receipt?

If you lose a receipt, try to obtain a duplicate from the vendor or document the expense with a detailed explanation.

Are there specific tools to help with expense tracking?

Yes, there are several tools like QuickBooks, Expensify, and even Excel templates designed for grant expense tracking.